Cut-back of cover for suppliers is latest in a series of headaches for founder of the troubled business
The troubled online beauty retailer THG faces more pain after a leading credit insurer reduced cover to its suppliers.
The Guardian can reveal that Allianz Trade, one of the UK’s largest credit insurers, cut back cover for suppliers to the beauty-to-nutrition retailer, formerly known as the Hut Group, in recent weeks.
Continue reading...Founder of online shopping group cements control as Japanese firm offloads its holding at £450m loss
THG shares have jumped on the news that Japan’s SoftBank will sell its stake in the troubled British online shopping group to its co-founder Matthew Moulding and Qatar’s sovereign wealth fund.
The move has cemented Moulding’s control of THG, formerly known as The Hut Group, which owns a range of internet health and beauty retailers, and ended speculation about SoftBank’s disastrous investment.
Continue reading...Company, which owns sites such as Lookfantastic and Zavvi, blames ‘global macroeconomic conditions’
The online shopping group THG has ended an agreement under which the Japanese conglomerate SoftBank had agreed to invest in it, blaming “global macroeconomic conditions”.
The company formerly known as The Hut Group, which owns a range of internet health and beauty retailers, secured $730m (£610m) of new investment from a division of SoftBank to help fund expansion of its technology platform a few months before it listed in London.
Continue reading...UK online shopping group runs beauty and nutrition sites and could be target of Candy Ventures
Property tycoon Nick Candy is considering making an offer to buy the £1.4bn online shopping group THG, formerly known as The Hut Group, which recently said it had rejected numerous “unacceptable” takeover approaches that undervalue the company.
Candy, a donor to the Conservative party with a fortune estimated at £1.5bn who is married to former Neighbours actor Holly Vallance, now has until 16 June to make a formal bid or walk away under UK takeover rules.
Continue reading...Online shopping group says it has dismissed ‘multiple’ attempts to buy company
Online shopping group THG has dismissed “numerous” takeover approaches as “unacceptable”, saying they undervalued the company.
Manchester-based THG (formerly known as The Hut Group), which runs beauty and nutrition websites including Lookfantastic, Cult Beauty and Myprotein, confirmed there had been interest from third parties, but said the company was not currently involved in any talks.
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